Indian Government bonds end marginally higher on Thursday - ICICI Bank : Treasury Research

Indian Government bonds ended marginally higher today as firm demand in the auction of dated securities today aided the Gilts. Further, a stronger rupee also supported the bonds. Meanwhile, markets await India IIP print scheduled earlier next week for further cues. The yield on the benchmark 7.16% bond due 2023 ended the day at 8.13% as against yesterday's close of 8.14%.

India's call rate closed at 10.00% as against previous close of 10.20%. The RBI injected INR 350.06 bn (gross) into the banking system today, as against INR 371.06 bn (gross) yesterday.

US Treasuries are trading flat today as traders remained cautious ahead of the initial jobless claims data due later today. Meanwhile, firm demand in 10-year bond sale yesterday gave some support to the Treasuries. Going ahead, auction of 30-year bonds worth USD 16 bn is scheduled today. The 10-year yield is currently trading at 2.60% flat around yesterday's close. (17:15 IST)

Source : Equity Bulls

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